The balance sheet caption for common stock is the following: Common stock without par value, 1,500,000 shares authorized, 600,000 shares issued, and 540,000 shares outstanding $ 8,700,000 Required: a. Calculate the average price at which the shares were issued. (Round your answer to 2 decimal places.) b. If these shares had been assigned a stated value of $1 each, show how the caption here would be different. c. If a cash dividend of $1.20 per share were declared, calculate the total amount of cash that would be paid to stockholders.